On July 1, 2011 the new United Kingdom Bribery Act came into force. Because of the wide jurisdictional reach of that Act, any company or person(s) with any substantive contacts with the U.K. should understand how the Act may affect your business.
The Act revises the bribery laws in the U.K., now making it a crime for a person to offer, give or promise to give a “financial or other advantage” to another individual in exchange for “improperly” performing a “relevant function or activity.”» Read More
Outsourcing to India Draws Western Lawyers. The legal outsourcing industry has taken off in India as money-conscious U.S. firms are hiring lawyers in India to do tasks such as document review and contract management. Now, to make this process more successful, Indian legal outsourcing firms are actively recruiting lawyers from western countries, such as the U.S. and the U.K. Surprisingly, these lawyers are considering the move since revenue from legal outsourcing firms in India is expected to reach $440 million this year.
Korea Firm Courts Harrah’s for Cambodia Angkor Casino. Korean development firm, Intercity Group, has invited Harrah’s Entertainment Inc. and MGM Resorts International, two of the world’s largest casino owners, to the site of the new Cambodia Angkor Casino. Intercity’s vice president, James Cho, said he would like to present Harrah’s and MGM with management operations deals. The casino will offer an alternative to the more established centers, such as those in Singapore and Macau.
U.S. Moves to Block New BP Oil Leases. Following the BP Deepwater Horizon oil spill catastrophe in the Gulf of Mexico, U.S. lawmakers are pushing an amendment to ban the U.K. company from obtaining any further oil leases, due to safety concerns. In addition to being under intense scrutiny in Congress, BP is under investigation by the U.S. Department of Justice and environmental regulators for ignoring safety failures and could face billions of dollars in fines.